By Admin 
Adani Group: Navi Mumbai International Airport has passed the Passenger Simulation Test. Now it is completely ready for flight movement from December 25. This project has been jointly built by Adani Airport Holdings Limited (AAHL) and City and Industrial Development Corporation of Maharashtra (CIDCO), in which AAHL has 74 percent stake and CIDCO has 26 percent stake.
AAHL’s plan for the next 5 years
A Bloomberg report has now revealed that Adani Group is planning to spend up to $15 billion to increase the capacity of its airports to 200 million passengers every year in the next five years.
AAHL preparing to launch IPO
The purpose of this expansion is to strengthen its hold in India’s rapidly growing aviation market as the company is preparing to list its airport business. Other airports that Adani Group company AAHL operates in the country include Mumbai Chhatrapati Shivaji Maharaj International Airport and Navi Mumbai International Airport, Lucknow, Ahmedabad, Jaipur, Guwahati, Mangaluru and Thiruvananthapuram. There is also a plan to upgrade their capacity.
India’s air passenger traffic is increasing rapidly
According to the report, about 70 percent of the expansion cost to increase the capacity of airports will be done from debt funds, while the remaining amount will come from equity. India’s air passenger traffic is expected to more than double to 300 million every year by 2030 and accordingly Adani Group wants to handle about two-thirds of the demand.
This upgradation also strengthens the company’s plan to launch the Initial Public Offering (IPO) of its airports unit. Most of the upgradation will be done in the six airports that Adani took over in 2020 during the second round of India’s airport privatization. Earlier these were operated by the Airports Authority of India.
Also read:
Rupee reaches abyss before RBI MPC meeting, crosses 90 against dollar for the first time